HyreCar reported $9.8 million in revenue in 2018, up 203% from $3.2 million in 2017.

“Our momentum has continued unabated, as evidenced by our record revenues in the first quarter, driven by our continued increase in rental days on our platform,” HyreCar Chief Executive Joe Furnari said in a statement that the company is on the “cusp of net profitability” and credited the uptick on increased demand and efficiencies realized through lowered internal costs and automating internal processes.

HyreCar reports it is now active in all 50 states and lists 114 dealers and more than 1,700 cars on its platform. Its stock rose 2.8% in after-hours trading on May 9, according to Nasdaq.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.